The ABC Bill before the US Congress
Finance with Neither Debt nor Tax
An Act is now before the US Congress to fund an initial $2 trillion in pandemic relief which will not add to either debt or taxation. It will fund a debit card for everyone of $2,000 per month. Its technique is something like a digital adaption of President Lincoln’s greenbacks.
Congressional power to mint coins is used to issue an initial two $1 trillion coins which the Reserve Bank will buy to fund the programme.
Press releases, articles and a video examining the proposal and the Act itself are in the links below.
Press release from the Act’s proposers
An article comparing the ABC Bill to an early 20th Century
proposal with similarities: